Community Health Systems has completed the sale of four hospitals in Arkansas and related outpatient facilities to Freeman Health System in a transaction valued at $110 million before certain expenses.

The Franklin, Tennessee-based healthcare company said the transaction closed June 1, following the announcement of a definitive agreement between the organizations on March 5.

The divestiture includes the 128-bed Northwest Medical Center-Bentonville in Bentonville, the 222-bed Northwest Medical Center-Springdale in Springdale, the 64-bed Northwest Medical Center-Willow Creek Women’s Hospital in Johnson and the 73-bed Siloam Springs Regional Hospital in Siloam Springs. Associated outpatient centers and physician practices were also included in the sale.
In total, the transaction transfers four hospitals with a combined 487 licensed beds from a subsidiary of Community Health Systems to Freeman Health System.

Community Health Systems did not disclose additional operational details related to the transition. The company said Leerink Partners served as its exclusive financial advisor for the transaction.

Community Health Systems is among the largest for-profit hospital operators in the United States. According to the company, its subsidiaries own or lease 60 affiliated hospitals with more than 8,000 beds and operate more than 800 sites of care across 12 states. Those facilities include physician practices, urgent care centers, freestanding emergency departments, imaging centers, ambulatory surgery centers and other outpatient services.

The hospital sale continues a broader trend of health systems reshaping their portfolios through acquisitions and divestitures as organizations seek to align assets with strategic and financial priorities.

Freeman Health System, the buyer in the transaction, is a regional healthcare provider headquartered in Joplin, Missouri. The acquisition expands its presence in northwest Arkansas, one of the fastest-growing regions in the state.

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